Car-maker MG lowered the price of its new EV, MG4 hatchback to $30,990 in Australia and the offer will be available until the end of October.
In Australia, electric vehicles have set another record with the cost of one new car being reduced by around $31,000 for the first time. Although the market seems to be optimistic for the customers, automobile experts have stated that a tough price scuffle is being witnessed among the cheaper and smaller electric vehicles.
In the market, the Australian taxes seem to reduce the competition in the ecosystem. Car-maker MG lessened the price of its new EV, MG4 hatchback to $30,990 in Australia. The offer will be available until the end of October. Although the region saw solid sales growth, a sum of $8000 has been decreased in comparison to the price recommended in August.
With the reduced price, MG4 has turned out to be the cheapest electric car in Australia, which is then followed by MG SZ EV, priced at $34,990, and GWM Ora hatchback is now appearing at a price of $35,990.Giles Belcher, the chief commercial officer at MG Motor Australia, mentioned that the new pricing structure has been designed to attract the motorists to purchase EVs and adopt green vehicles.
In an interaction with the Guardian, Belcher said, “We know that people may have been considering an EV but potentially have held off due to the cost. [This] ensures all buyers who had been thinking of making the switch to an EV now can, thanks to the lower entry point.” As per the Federal Chamber of Automotive Industries, MG4 is the most sold hatchbacks in Australia with sales recorded more than 3,387 sold until August.
Reports also surfaced that in an effort to boost sales in the region, Tesla, Lotus, Renault and Peugeot are some of the competitors, which are expected to slump the prices of electric vehicles. Scott Maynard, managing director of Polestar Australia revealed that electric car price war was limited to the mid and entry-level segments of the local automotive market.
